Drawdowns

What is a drawdown?

A drawdown allows eligible customers to transfer funds from their available Capital on Tap credit limit directly to their linked business bank account.

Only the main account holder can request a drawdown.

Who can use drawdowns?

Drawdowns are available to eligible UK customers.

Capital on Tap may restrict or remove access to the drawdown feature at any time in order to lend responsibly.

How do I request a drawdown on the Web Portal?

1. Log in to your portal.
2. Select Make a drawdown on the dashboard.
3. Enter the amount you want to transfer.
4. Click Continue.
5. Verify your identity if prompted.
6. Enter the secure code sent to the mobile number on your account to confirm.

How do I request a drawdown in the App?

1. Open the Capital on Tap app.
2. Select Make a drawdown on the dashboard.
3. Confirm the transfer amount and details.
4. Enter your two-factor authentication (2FA) code.
5. Submit the request.

How long does a drawdown take?

Most drawdowns arrive within 30 minutes to 2 business hours. Only one drawdown can be processed at a time.

How much can I draw down?

The amount available for drawdown may be lower than your total credit limit. Your available drawdown amount will be shown before you confirm the transfer.

The maximum value of a single drawdown is £20,000.

How is interest charged for drawdowns?

It depends on whether your account is in credit at the time of the drawdown.

If your account is in credit, interest won’t be charged as you are withdrawing funds that are already yours.

If your account is not in credit, interest will be charged and calculated daily on the drawdown amount from the day the funds are transferred until they are repaid in full. In this case, the interest charge is applied at the end of the billing period and you will be shown any applicable interest charges before confirming the drawdown.

To avoid interest charges on a non-credit drawdown, you need to repay the full amount on the same day by midnight once the funds arrive in your account.

For preloaded funds, no interest will be charged on a drawdown provided the drawdown amount does not exceed the in-credit balance.

Can I cancel a drawdown?

 No, once a drawdown request has been submitted, it cannot be cancelled. If you have made a drawdown by mistake, you can send the funds back before midnight on the same day to avoid any charges. 

Why was my drawdown declined?

Common reasons include:

• No active Direct Debit on the account
• Incorrect SMS verification code
• Insufficient available funds
• Physical card not activated
• Internal review requirements
• Exceeding the £20,000 transaction limit

If your request is referred for review, you should receive an update within 2 business hours.

Is it possible to use preloaded funds for a drawdown?

Yes, you can request a drawdown against any preloaded funds in your account. As long as the drawdown amount is within your in-credit balance, no interest will be applied to the transfer.

Are repayments applied to drawdowns first?

Yes, any repayments you make are first applied to the outstanding cash balance on your account.

Is it possible to drawdown my full credit limit?

The available drawdown amount may be less than your total limit. Your specific available amount will be displayed for review prior to confirmation.

What should I do if my drawdown hasn't arrived?

If you have received confirmation that your drawdown was approved:

1. Allow up to 2 business hours.
2. Verify that you are checking the specific bank account linked to your Capital on Tap profile.
3. Confirm your bank account details are correct.

If the funds have not arrived after 2 business hours, please contact us by calling 020 8962 7401 or by emailing a copy of your bank statement to contact@capitalontap.com.